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Globe and Mail
30-04-2025
- Automotive
- Globe and Mail
Redburn Atlantic: Time to Sell Tesla Stock (NASDAQ:TSLA)
Things have not been great for electric vehicle stock Tesla (TSLA) of late, nor for its various derivatives. And new word from analysts at Redburn Atlantic say it is time to pull out altogether. Investors, meanwhile, took Redburn's advice seriously, if only slightly, and shares of Tesla slipped fractionally in Tuesday afternoon's trading. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Word from Redburn Capital analyst Adrian Yanoshik calls for a mass exodus, as Tesla's recent history of declining sales volume and accompanying hurting cash flow is likely to carry on for the rest of the year. A combination of Mexico-US tariffs, China-Europe tariffs, and overall struggles with electric vehicle pricing are likely to produce troubles for Tesla through much of 2025. In fact, Redburn's projections on Tesla are downright pessimistic. Its estimates for free cash flow, and for earnings, are each 10% below Wall Street consensus, reports noted. And if the United States Inflation Reduction Act clean vehicle credits get pulled back as well, then that will take Tesla's sales down still another notch. Thus, Redburn's projected price target on Tesla stock stands at $160 per share. That represents a 44% drop against Monday's closing figures. Good Luck Buying One in New York And in New York, it may get tougher to even try to sell a Tesla to begin with. While state lawmakers have been previously seen working to bring more Tesla dealerships to New York under the guise of supporting green energy initiatives, that, somehow, changed. Now, New York is working to remove the five directly-operated Tesla dealerships in the state, because, apparently, Tesla cars are no longer green. Particularly when large amounts of them are being set on fire by 'protestors.' In fact, some Democrats in New York want to go farther still; instead of cutting off Tesla's ability to sell, they also want a 'comprehensive audit' of a deal that lets Tesla run a plant near Buffalo on a $1-per-year lease. Further, Dems also want clawbacks on previously-awarded subsidies, because again, somehow, Tesla electric vehicles just are not 'green' enough any more. Though, certainly, some have asserted that this is a matter of politics on Tesla's CEO's part rather than any issue with the vehicles themselves. Is Tesla a Buy, Hold or Sell? Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 17 Buys, 10 Holds, and 12 Sells assigned in the past three months, as indicated by the graphic below. After a 55.58% rally in its share price over the past year, the average TSLA price target of $284.74 per share implies 0.5% upside potential. See more TSLA analyst ratings Disclosure Disclaimer & Disclosure Report an Issue
USA Today
31-03-2025
- Business
- USA Today
Will Trump's tariffs raise prices? Here's how 'Liberation Day' affects imports.
Will Trump's tariffs raise prices? Here's how 'Liberation Day' affects imports. Show Caption Hide Caption Mexico-US reach tentative tariff agreement President Donald Trump and Mexican President Claudia Sheinbaum have agreed to pause tariffs on Mexican imports for one month. President Donald Trump's plans to impose reciprocal tariffs and a 25% auto tariff on imports to the United States are likely to slow production and drive up prices, even if he reaches deals to temporarily pause them, as he did in the case of Mexico and Canada. Trump's decision to levy 20% tariffs on imports from China and 25% tariffs on imports from Mexico and Canada earlier this year created uncertainty that is likely to raise prices until a permanent solution is found, said Mike Skordeles, head of U.S. economics at Truist. While prices are expected to increase across the board, some items will see a price bump more quickly than others. For instance, consumers are likely to pay more for perishable foods sooner than they will pay more for their cars. The U.S. received 51% of its fresh fruit and 69% of its vegetables from Mexico in 2022, according to the U.S. Department of Agriculture. A one-month pause on 25% tariffs for those items doesn't mean their prices won't rise. "If I was a producer, I'd say I need to get a little more for that stuff because there is a risk it might get shut down in a month," Skordeles said. In theory, companies can stockpile some amount of car parts. They can't stockpile avocados, which spoil within a week. But Dr. Michael Swanson, a Wells Fargo Agri-Food Institute chief agricultural economist, said those price increases might not reach your grocery store until after this weekend's Super Bowl. There may still be time to grab ingredients for guacamole. "It's unlikely that changes in tariffs will impact prices headed into the Super Bowl, however, we'll see how it plays out in the coming weeks," Swanson told USA TODAY. "This is certainly the year for consumers to stay food fluent." More: What items will cost more? What to know about Trump's tariffs on Canada, Mexico, and China Oil tariff will affect costs of most products Trump's originally proposed 10% tariff on Canadian oil, which Skordeles said equates to a roughly 16 cent increase per gallon, would eventually raise the price of almost everything because companies need fuel to transport their products across the country. Retaliatory actions by the three U.S. trade partners are also likely to stir up trouble for American companies. "This is a mess," Skordeles said. "There are so many unintended consequences." Tariffs are a tax on the exchange of goods between countries, largely paid for by American companies in this instance. In a world where free trade in North America has been a given for decades, many supply chains, particularly those for cars, involve goods moving across borders before a product is ready to be sold to American consumers. Trump's originally proposed tariffs were likely to hit those who work in the automotive industry or are looking to buy a car hardest, because passenger vehicles and vehicle parts are some of the top imports the U.S. receives from Canada. Several car parts may need to travel across the border, sometimes on multiple occasions. Skordeles gave the example of a car company transporting transmissions. With tariffs in effect, it has to pause each time so U.S. Customs can count how many there are and ensure the correct tariffs are being applied. This process increases costs − costs that are likely to be passed on to consumers − and slows production, which could lead to supply shortages that further drive up prices. "You might see prices go up not just for new cars but for used ones, too, as any additional scarcity in the market often drives more would-be new shoppers to consider used cars," Stef Schrader told USA TODAY. "Cars that depend heavily on imported parts or are fully imported from the affected countries will likely see price hikes first." China tariffs more likely to stick Tariffs on China are more likely to stick than those on Canada and Mexico, Skordeles said. There is precedent for the U.S. imposing tariffs on China that stuck around during Trump's first term and during President Joe Biden's time in office. American consumers feel less impact of import tariffs at the checkout line if there are domestic substitutions for them, which the U.S. has sometimes been able to find in the past. At times when there was no substitution for imports, such as iPhones that are assembled abroad, Apple successfully lobbied to make their product exempt from Chinese tariffs. Contributing: Bailey Schulz Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_
USA Today
06-02-2025
- Politics
- USA Today
Did Mexico's president wear ‘Make America Mexicana Again' hat? No, that's AI
Did Mexico's president wear 'Make America Mexicana Again' hat? No, that's AI | Fact check Show Caption Hide Caption Mexico-US reach tentative tariff agreement President Donald Trump and Mexican President Claudia Sheinbaum have agreed to pause tariffs on Mexican imports for one month. The claim: Image shows Mexico's president wearing 'Make America Mexicana Again' hat A Jan. 18 Instagram post (direct link, archive link) appears to show Mexican President Claudia Sheinbaum wearing a red hat with the slogan 'Make America Mexicana Again.' 'This is hysterical,' reads text above the image. 'The President of Mexico was spotted wearing a 'Make America Mexicana Again' (hat).' The post was liked more than 27,000 times in about two weeks. Similar posts were shared on X and Threads. More from the Fact-Check Team: How we pick and research claims | Email newsletter | Facebook page Our rating: Manipulated media The image was generated by artificial intelligence. The uncropped image contains a watermark that indicates it was made with AI, and an AI detection tool determined the image was fabricated. Image of Mexico's president in red hat is AI generated In early January, Sheinbaum responded to then-President-elect Donald Trump's suggestion that the Gulf of Mexico be renamed the 'Gulf of America" by proposing that the U.S. be renamed "Mexican America." But the image in the Instagram post isn't real. It was created with Grok, X's AI chatbot, which can be used for 'question answering, information retrieval, creative writing, image generation and coding assistance,' according to xAI's website. The logo that indicates the image was made by Grok is cropped out of the Instagram post but still appears in other versions of the image posted on X. Fact check: No, Mexico's president did not make statement about 'sending felons' to US Hive Moderation's AI detection tool determined the image is 99.7% likely to be AI-generated. Nothing similar to the image appears on Sheinbaum's social media accounts, and no credible news reports mention her wearing such a hat. USA TODAY reached out to the social media user who shared the post for comment but did not immediately receive a response. Reuters also debunked the claim. Our fact-check sources Thank you for supporting our journalism. You can subscribe to our print edition, ad-free app or e-newspaper here. USA TODAY is a verified signatory of the International Fact-Checking Network, which requires a demonstrated commitment to nonpartisanship, fairness and transparency. Our fact-check work is supported in part by a grant from Meta.
USA Today
04-02-2025
- Politics
- USA Today
No, Mexico's president did not make statement about ‘sending felons' to US
No, Mexico's president did not make statement about 'sending felons' to US | Fact check Show Caption Hide Caption Mexico-US reach tentative tariff agreement President Donald Trump and Mexican President Claudia Sheinbaum have agreed to pause tariffs on Mexican imports for one month. The claim: Mexico's president said she thought sending criminals to US was encouraged 'considering that's what they chose to be their president' A Feb. 1 Instagram post (direct link, archive link) includes a purported quote from Mexican President Claudia Sheinbaum. 'I'm confused. I keep hearing everyone from America saying that my country is sending Felons & Grapists (sic) into their Country,' reads the statement attributed to Sheinbaum. 'We thought that was encouraged Considering That's What They Chose To Be Their President.' The post was liked more than 10,000 times in three days. A similar post on X was reposted more than 100 times in two days. More from the Fact-Check Team: How we pick and research claims | Email newsletter | Facebook page Our rating: False There is no evidence Sheinbaum made the statement attributed to her in the post. No evidence Sheinbaum made statement about 'sending felons' to US Sheinbaum, the first woman to be Mexico's president, has already been involved in several exchanges with President Donald Trump – from pushing back on his effort to change the name of the Gulf of Mexico to negotiating a deal that prevented Trump's 25% tariffs on Mexico from going into effect for at least a month. But there's no evidence Sheinbaum made the statement in the Instagram post. Nothing similar appears on Sheinbaum's social media accounts or news releases, nor are there any credible news reports about such a statement. The image in the post shows Sheinbaum at a press conference in Mexico City on Oct. 2, 2024, a day after she was inaugurated. Fact check: Bishop who asked Trump to 'have mercy' not removed. That's satire The statement attributed to Sheinbaum in the Instagram post echoes the remark Trump made while announcing his first run for president on June 16, 2015, when he said Mexico was 'sending people that have lots of problems, and they're bringing those problems with us. They're bringing drugs. They're bringing crime. They're rapists. And some, I assume, are good people." Sheinbaum is a Nobel Prize-winning scientist and the former mayor of Mexico City who won Mexico's presidential election in a landslide in June 2024, as USA TODAY reported. USA TODAY reached out to the social media user who shared the post for comment but did not immediately receive a response. Our fact-check sources Thank you for supporting our journalism. You can subscribe to our print edition, ad-free app or e-newspaper here. USA TODAY is a verified signatory of the International Fact-Checking Network, which requires a demonstrated commitment to nonpartisanship, fairness and transparency. Our fact-check work is supported in part by a grant from Meta.
